If you’re experiencing financial difficulty, the sooner you contact
a bankruptcy attorney the better, because you might not be aware of all
the debt relief options available to you. If you wait too long or try
services like debt settlement or debt consolidation first, you’ll
probably end up in a worse situation than the one you were in to begin with.
You’ve probably seen ads claiming that debt settlement or debt consolidation
is better than filing for bankruptcy. But these companies don’t
tell you the whole story. At best, they can try to negotiate with your
creditors for slight reductions in debt or a little lower monthly payment—but
for most people, this doesn’t solve much in the big picture. Plus,
it will likely ruin your credit in the meantime.
Debt settlement companies will often advise you to stop paying your debts,
whether as a tactic to negotiate with your creditor or to give you time
to “save up” for a lump sum payoff. However, falling further
behind on your payments will severely damage your credit. It could also
be to your disadvantage to cash out a retirement account to pay a credit
card settlement when that money would be exempt if you filed for bankruptcy.
The idea of filing for bankruptcy isn’t something anyone wants to
think about, but it’s a solution offered by the bankruptcy laws
to help people get back on their feet. The debt settlement companies are
out for themselves, whereas Southbay Bankruptcy is dedicated to helping
families actually solve their financial problems. Chula Vista bankruptcy
attorney Kerry Denton can explain what bankruptcy can do for you. In addition
to erasing your debt, bankruptcy might also help you stop a foreclosure
and protect assets you might otherwise sell in the struggle to pay your debts.
If you are experiencing financial difficulty, discuss your options with
Chula Vista bankruptcy attorney. Call the
Denton Law Group at (619) 458-3739 to schedule a free consultation.